The Italian government has presented a proposal to review European CO₂ regulations, which had caused the Green Lobby to scream hysterically. The carbon market is a major part of the Everything bubble, as so-called emission licences are traded on the secondary market and in the derivative gambling casino.
Italian industry minister Adolfo Urso proposed to “suspend the current ETS system pending a thorough review, in order to prevent the cost of CO₂ from becoming an additional tax on businesses, compromising the competitiveness of our production system,” Urso wrote on X. Urso presented his proposal at the “Competitiveness Council “meeting of EU ministers Feb. 26.
“The goal remains to correct the mechanisms that cause energy prices to soar, urgently postpone the phasing out of free allowances, and introduce stable support for exporting companies, which is still absent from the #CBAM [Carbon Board Adjustment Mechanism] reform. We must therefore realign climate policies with the reality of European industry: decarbonize, yes, but without deindustrializing.”
